Canadian Shield Updates Regional Andean Gold Exploration Program in Peru
December 07 2009 - 10:59AM
Marketwired
Canadian Shield Resources Ltd. (TSX VENTURE: EXP) ("Canadian
Shield" or the "Company") is pleased to announce the initiation of
the Regional Andean Gold Exploration Program ("RAGE") in Peru. The
program seeks to identify new gold and silver discoveries through
generative exploration and acquisition, based on the Company's
extensive regional database. Canadian Shield acquired a strategic
gold exploration database with its acquisition of a 90% interest in
Gallant Minerals Peru Ltd S.A.. The database contains extensive
mineral occurrence information, structural, geological, geochemical
and remote sensing data which have been integrated to identify
favourable areas for identification of epithermal alteration, and
precious metal mineralization. The Company will hold a 100%
interest in all new properties.
Canadian Shield also announces it has withdrawn from the
non-binding Letter of Intent agreement with Kinross Gold
Corporation to conduct regional exploration, as announced in a
press release dated June 23, 2009.
Keith Laskowski, the recently appointed President of Canadian
Shield stated, "We have a great deal of respect and appreciation
for Kinross, and their successful exploration and development
capabilities, Under the current market conditions, we believe
Canadian Shield can provide greater shareholder value by completing
the first phase of the RAGE program on our own. Canadian Shield
will consider strategic partnerships with larger companies as we
advance the program.
About Canadian Shield Resources Ltd. (TSX VENTURE: EXP)
Canadian Shield is a precious metals exploration and development
company focused on strategically-located properties in Peru and
Chile. Canadian Shield has seven precious metal exploration
projects in Peru and one in Chile. The Company's shares are listed
on the TSX Venture Exchange (Trading Symbol TSX VENTURE: EXP).
Further information is available at Canadian Shield's website:
www.canadianshieldresources.com.
STATEMENTS IN THIS PRESS RELEASE, OTHER THAN PURELY HISTORICAL
INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE
PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE
FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON
NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND
UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS
A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED
IN THE FORWARD-LOOKING STATEMENTS.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Canadian Shield Resources Ltd. Keith Laskowski, MSc.
President Direct: +1 (720) 272-6224 +1 (416) 927-1222 (FAX)
klaskowski@canadianshieldresources.com
www.canadianshieldresources.com
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